$225,000
Median Home Price
$191,000
Avg. Loan Amount
128K
Population
6+
Licensed Lenders
Key Norman Neighborhoods
Explore popular neighborhoods and their median home prices. Click on map markers for details.
Map Legend
Campus Corner
$265KOU area, vibrant
East Norman
$245KEstablished, families
Noble
$215KSuburban, affordable
Norman Real Estate Market
Why Non-QM loans are popular in Norman
Growing demand for flexible mortgage solutions in Norman
Self-employed professionals benefit from bank statement loan programs
Real estate investors use DSCR loans for rental property financing
Non-QM loans available for borrowers with recent credit events
Frequently Asked Questions
Common questions about Non-QM loans in Norman
What is the minimum credit score for Non-QM loans in Norman?
Most Non-QM lenders serving Norman require a minimum credit score of 620-660, though some programs accept scores as low as 580 with compensating factors like larger down payments.
Can I get a bank statement loan in Norman, Oklahoma?
Yes, bank statement loans are available in Norman. Self-employed borrowers can qualify using 12 or 24 months of personal or business bank statements instead of tax returns.
What are DSCR loan requirements in Norman?
DSCR loans in Norman typically require a debt service coverage ratio of 1.0 or higher, meaning the property's rental income must cover the mortgage payment. No personal income verification is needed.
How much can I borrow with a Non-QM loan in Norman?
Non-QM loan amounts in Norman typically range from $100,000 to $3 million or more. With a median home price of $225,000, many borrowers find Non-QM loans essential for their purchase.
What Non-QM programs are most popular in Norman?
The most popular Non-QM programs in Norman include bank statement loans for self-employed borrowers, DSCR loans for real estate investors, and asset depletion loans for high-net-worth individuals.